By Mr. Abhay Ray 
Introduction
The Reserve Bank of India (RBI) has made it mandatory for all regulated entities to use the PRAVAAH portal for submitting applications related to regulatory authorizations, licenses, and approvals starting May 1, 2025. The move is part of the central bank’s broader push towards digitization, transparency, and streamlined communication with regulated financial institutions. In an official notification released on Monday, the RBI instructed all banks, Non-Banking Financial Companies (NBFCs), financial institutions, and other supervised entities to discontinue offline or alternate submission channels and switch entirely to the PRAVAAH platform. “With effect from May 01, 2025, Regulated Entities are advised to use PRAVAAH for submitting applications for regulatory authorisations, licenses, approvals to the Reserve Bank using the application forms already available in the portal,” the RBI said.
Banks and NBFCs Must Adopt PRAVAAH for Licenses and Authorizations
Effective today, May 1, 2025, all banks and Non-Banking Financial Companies (NBFCs) in India are mandated by the Reserve Bank of India (RBI) to exclusively use the PRAVAAH (Platform for Regulatory Application, Validation and Authorization) portal for submitting applications related to regulatory licenses, authorizations, and approvals.
This directive marks a significant shift towards a fully digital and streamlined regulatory process. The PRAVAAH portal acts as a single point of access, eliminating the need for paper-based submissions and other offline channels.
Key benefits for banks and NBFCs include the ability to submit applications online, track their real-time status, receive timely updates and notifications, and communicate securely with the RBI. The portal also provides access to essential resources like application forms, guidelines, FAQs, and user manuals. This mandatory adoption aims to enhance efficiency, improve transparency, reduce processing times, and modernize the regulatory interaction between the RBI and its regulated entities.
PRAVAAH: A Digital Shift for Efficiency and Transparency
Launched on May 28, 2024, PRAVAAH short for Platform for Regulatory Application, Validation and Authorization is a secure, web-based system developed to centralize and simplify the submission and tracking of applications made to the RBI. Since its rollout, the portal has processed approximately 4,000 applications, demonstrating its capacity to serve as a unified regulatory interface.
Key features include online application submission, real-time tracking of application status, secure communication with the RBI, and access to necessary forms, instructions, FAQs, and tutorials. Effective May 1, 2025, the RBI has mandated that all banks, financial companies, and other regulated entities must use the PRAVAAH portal for all new regulatory applications to enhance efficiency and transparency in the approval process and reduce paper-based submissions.
However, the RBI noted that despite the availability of PRAVAAH, some regulated entities continued to use traditional and manual modes to seek approvals. To address this inconsistency and ensure standardization, the RBI has now made the use of the portal compulsory. The platform enables institutions to submit and track applications, download relevant forms, and access detailed user instructions. It includes a user manual, FAQs, and video tutorials to help entities navigate the platform effectively.
Importance of the PRAVAAH Portal
The introduction of the PRAVAAH portal offers several benefits to the applicants and the Reserve Bank of India:
- For Applicants:
- Ease of Application: Single online platform facilitates easy identification of the correct application form and entry of the desired information.
- Reduced Turnaround Time: Streamlined processes and electronic messaging will reduce the duration of application processing and approvals.
- Increased Transparency: Real-time tracking of applications keeps applicants informed and reduces uncertainty.
- Convenience: Online submission and response end the inconvenience of paper documents and personal contact. The web portal can be accessed from anywhere in the world, providing greater convenience to applicants, including NRIs and foreign institutions.
- For Reserve Bank of India:
- Enhanced Efficiency: Automated application process saves man-hours, makes workflow management easier, and reduces processing time.
- Enhanced Transparency: There is a simple audit trail for applications and status, enhancing accountability.
- Formalized Processes: Automated validation and formatted application forms allow accuracy and completeness of information.
- Improved Data Handling: Electronic filing facilitates simple storage, recall, and analysis of application information.
- Optimized Resources: Reduced reliance on paper-consuming process yields cost benefit and optimal usage of resources.
Procedure for filing the PRAVAAH Portal
PRAVAAH portal is the RBI digitization initiative platform for regulatory application and step by step guide to RBI PRAVAAH portal is as follows:
- Access the Portal: PRAVAAH can be accessed by logging in at: https://pravaah.rbi.org.in, and the RBI website also provides a link for the same.
- Registration: The new members will likely need to register on the portal by providing basic details like name, mobile number, and email address. Commercial entities might be required to provide their PAN and GST numbers. OTP (One-Time Password) verification through the registered mobile number is typically a part of the verification process.
- Login: Once registered, the applicant can log in using his/her registered mobile number as the identifier and OTP received.
- Select Application Form: After login, one can browse through the available forms listed, categorized based on the respective RBI department and choose the form most appropriate for his requirement. There is a general-purpose form available for those situations which are not covered by specific forms. PRAVAAH should not be utilized for Right to Information (RTI) applications, supervisory/regulatory reports, or complaints that fall under the purview of the Banking Ombudsman.
- Fill the Application: The applicants should fill all the information necessitated in the online application and upload the necessitated documents as detailed. The portal can facilitate the provisions for saving draft application and filling them subsequently.
- Validate and Submit: Before final submission, the applicant would likely be asked to verify the information filled in the form for accuracy. When all the information is filled in and verified, the “Submit” button would be activated.
- Follow Application Status: On successful submission, a success message is shown and a 10 digit unique Application ID is created after submitting the application, the applicants can see the status of their application on the portal currently. They will also be intimated through SMS and email regarding any queries, clarifications, or final decision.
- Reply Questions: If there is any query from the RBI or the requirement of more information, the applicants can reply and upload documents online through the portal.
- Receive Decision: The RBI will inform the applicant about its decision on the application through the portal along with an email and SMS.
Conclusion
The RBI’s enforcement of the PRAVAAH portal, effective today, May 1, 2025, marks a definitive stride towards the digital transformation of regulatory interactions within the Indian banking and NBFC sectors. This mandatory shift to a centralized online platform promises significant enhancements in efficiency, transparency, and convenience for both regulated entities and the central bank. By streamlining application processes, enabling real-time tracking, and fostering seamless digital communication, PRAVAAH is set to modernize the regulatory landscape, reduce bureaucratic hurdles, and ultimately contribute to a more dynamic and responsive financial ecosystem. While initial adaptation may be required, the long-term benefits of this digital overhaul are poised to reshape regulatory engagement for the better.
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